A delivery truck is bought on 30 June 2014 for £50,000. It is depreciated using reducing balance at a rate of 20% per annum, with no depreciation provided in the year of purchase or in the year of sale. On 23 May 2018, the truck is sold for £21,500.

Produce an asset disposal account to record the sale of the truck. The business’s financial year ends on 31 December.